Siano Raises $17.5 Million

Siano Mobile Silicon Ltd., a Netanya, Israel-based mobile TV chipmaker, has raised $17.5 million in third-round funding. DFJ Tamir Fishman Ventures led the round, and was joined by return backers JVP, Star Ventures, Walden Israel, Bessemer Venture Partners and Inventec Appliances. Siano has now raised $52 million since 2005.

PRESS RELEASE

Leading mobile TV chip maker Siano Mobile Silicon announced today that is has secured a third round of funding, of US $17.5 million. DFJ Tamir Fishman Ventures (DFJTFV), the exclusive Israeli partner of the US based global venture capital — Draper Fisher Jurvetson (DFJ), led the round and was joined by all of the existing investors from previous rounds — JVP, Star Ventures, Walden Israel, Bessemer Venture Partners, and Inventec Appliances. Siano has now raised $52 million, in three rounds of funding.

The present financing round follows an eventful year for Siano, as the company expanded its footprint in the soaring Asian mobile TV market with the opening of offices in Korea and Japan, in addition to extensive activity in China that included the launch of its SMS1180 receiver chip, supporting the Chinese mobile TV technology that is currently making its debut at the Olympics Games. In addition, earlier in the year, Siano has continued to demonstrate its global technology leadership with notable design wins and the launch of its latest multi-standard chip, the SMS1130, which added the support of ISDB-T, the mobile TV broadcasting standard used in Japan and Brazil, to the mobile TV technologies supported already in previous products — DVB-T, DVB-H and T-DMB.

Eldad Tamir, co-founder and General Partner at DFJ-Tamir Fishman Ventures, commented: “We are thrilled to lead this round and invest in an outstanding company such as Siano. As a leading venture capital firm that keeps a constant eye out for noteworthy investment opportunities, we've been observing the mobile TV market and its ever-rising potential for some time now, and it quickly became clear to us that Siano is well positioned to become a true global industry leader.

“The consumer market is now starting to fulfill the vision that gave birth to Siano back in 2004, namely that within just a few years, practically every single non-tethered consumer device with a color LCD would include digital TV function, said Alon Ironi, CEO of Siano. We are witnessing massive embedding of our products into a surprisingly wide range of devices, from mobile phones and notebooks to navigation devices, portable media players and even boom-boxes and digital photo frames.”

“The new capital will help Siano expand its sales and customer support facilities worldwide, build adequate silicon inventory to match the increasing demand for its products, and continue developing state-of-the-art solutions for the mobile TV market,” added Ironi.

About Siano Mobile Silicon

Siano Mobile Silicon provides integrated silicon receiver and antenna chips for the mobile digital TV (MDTV) market. Tailored specifically for handheld and mobile devices, the company's multi-standard solutions combine high performance with extremely low power and ease-of-design. Headquartered in Israel, Siano has offices for sales, business development and customer support in China, Taiwan, South Korea, Japan and the USA. The company's products are already shipped in mobile and portable devices all over the world.

About DFJ Tamir Fishman Ventures

DFJ Tamir Fishman Ventures is a leading Israeli venture capital firm, established in 1997 by Tamir Fishman & Co, investing in early stage, Israeli-related technology-intensive startups in the fields of: IT and communications, software, Internet, new media, life science and Cleantech.

Building upon the experience gained in over 10 years of successful investing in Israel, and managing close to $300 million in three funds, DFJ Tamir Fishman Ventures is set to capitalize on one of the world's primary technology innovation centers